Lighthouse Dee Why receives tick of approval

THE Meriton group’s ambitious plan to give Dee Why a vibrant new town centre has taken a major step forward receiving DA approval yesterday from the Sydney North Planning Panel in conjunction with Northern Beaches Council.

Lighthouse, an expansive four-building mixed-use project, will include two towers rising up 17 storeys, and is intended to be a beacon for the suburb in its coastal setting that will be developed on land that previously housed a shopping centre.

Marketing of its 351 luxurious residential apartments commenced in November 2016 and construction is well underway.

James Sialepis, Meriton’s Director of Sales, yesterday said that sales have been tracking well, primarily to residents of Dee Why and nearby suburbs who are flocking to the development.

“We have already sold a quarter of the apartment’s pre-DA approval.

“This shows a big commitment from our buyer’s and the strength of the Meriton brand that boasts a 100% construction completion rate.

“We have had strong interest from local buyers, 80% of sales to-date have been to residents within a 10km radius.

“The majority of purchasers are young families, down-sizers and investors, keen to live or invest in an open and landscaped environment with uninterrupted views of the ocean and a retail precinct on their doorstep.

“Investors see the need for rental apartment supply in an area where there is very little available for rent and extremely high demand.”

Mr Sialepis said construction has commenced and it is very rewarding to produce a world-class development in such a fantastic beachside location.

“A project such as Lighthouse will draw on all our resources and experience, and we are encouraged by the level of trust and commitment from the local community.”

Meriton has finalised negotiations for a retail anchor tenant with the signing of Woolworths, set to open a 4,000sqm supermarket on the ground floor of the retail precinct.

Meriton’s Head of Retail and Commercial, Nicholas Ivanov, yesterday said the Woolworths commitment was a great endorsement of the plan for the upmarket retail area and its alfresco dining and café heart.

“The retail precinct will offer the residents of Dee Why and surrounding areas a one-stop shopping, dining and fitness destination with 90% of tenants already confirmed including NAB, Guzman Y Gomez and Crunch Fitness in addition to Woolworths.

“Lighthouse will be the beating heart of a new town centre linking residential, retail, commercial and childcare, all in one central location.

“Our founder, Harry Triguboff, regards Lighthouse as a something of a legacy project – one that showcases the abilities Meriton has honed over more than 50 years.”

Meriton bought the 1.44ha Lighthouse site for $52 million three years ago from Canada’s Brookfield group.